Oando Plc Oando Investor Presentation November, 2015 www.oandoplc.com ..the energy to inspire
Disclaimer geological, geophysical and engineering data. A high degree of certainty may be assigned on the basis of log and/or core analysis if analogous actual production or formation testing. In certain instances proved reserves be recovered. In general reserves are considered proved only if supported by produced, i.e. there is only a 10% probability that less than these reserves will reserves and there is a 90% confidence that at least these reserves will be the actual remaining quantities recovered will exceed the estimated proved generally means, for the purposes of reserve classification, that it is likely that with a high degree of certainty on the basis of an analysis of drilling, assigned for enhanced recovery processes which have been demonstrated Proved Reserves: Proved reserves are those reserves that can be estimated reasonable doubt as to its chance of success. an enhanced recovery scheme that is not in operation and where there is recovered. This category includes those reserves that may be recovered by recovered, i.e. there is a 90% probability that less than these reserves will be classification there is a 10% probability that more than these reserves will be proved or probable reserves which means for purposes of reserves probable reserves. Possible reserves are less certain to be recovered than reservoirs are known to be economically productive. Proved reserves are also to be economically and technically successful in the reservoir either by pilot hydrocarbons estimated on the basis of engineering and geological data that reserves that depend on successful work-over or mechanical changes for Plc (the “Company”) shares or other otherwise acquire or dispose of any Oando invitation to underwrite, subscribe for, or This presentation does not constitute an to have favorable conditions recovery process which has yet to be established and pilot tested but appears recovery; reserves that require infill drilling and reserves from an enhanced mechanism develops than was assumed in estimating proved reserves; testing or by analogy to installed projects in analogous reservoirs. These include reserves that would be recoverable if a more efficient recovery than the Proved plus Probable Additional reserves will actually be recovered. purposes of reserves classification, that there is 50% probability that more are less certain to be recovered than proved reserves; which means, for the certainty required to classify the reserves are proved. Probable reserves are similar to those used for proved reserves but that lack, for various reasons, hydrocarbons estimated on the basis of engineering and geological data that Probable Reserves: Probable reserves are quantities of recoverable are less complete and less conclusive than the data used in estimates of Possible Reserves: Possible reserves are quantities of recoverable This presentation includes certain forward looking statements with respect to which could cause the Company’s actual results and developments to differ Past performance is no guide to future performance and persons needing other than is required by law. statements, whether as a result of new information, future events or otherwise, hereof. The Company will not publicly update or revise any forward looking this presentation are based on information known to the Company on the date Company’s annual report and other filings. All forward looking statements in materially from those forward looking statements are discussed in the expressed or implied. The significant risks related to the Company’s business All estimates of reserves and resources are classified in line with NI 51-101 cause actual results and developments to differ materially from those very nature forward looking statements involve risk and uncertainty that could achieve production targets, and any revenue and profit guidance. By their launch dates for new projects, ability to successfully integrate acquisitions or revenues from projects, the both current and under development, possible particular and without limitation, the statements regarding potential sales operations and certain plans and objectives of the Company including, in certain development projects, potential collaborative partnerships, results of advice should consult an independent financial adviser. regulations and Canadian Oil & Gas Evaluation Handbook standards. All conditions in the case of escalated price and inflated cost forecasts. not reflect the same confidence level as estimates of reserves and future net regulatory authorities) or they may be reasonably anticipated economic constant price and un-inflated cost forecasts (as required by many financial economic conditions may be current economic conditions in the case of specified economic conditions and government regulations. Specified accumulations from a given date forward by established technology under substances estimated to be commercially recoverable from known Reserves: Reserves are volumes of hydrocarbons and associated revenue for all properties, due to the effects of aggregation. The estimates of reserves and future net revenue for individual properties may estimates are from an Independent Reverses Evaluator Report having an does not represent a value equivalency at the wellhead. equivalency conversion method primarily applicable at the burner tip and bbl [or an McfGE conversion ratio of 1 bbl: 6 Mcf] is based on an energy misleading, particularly if used in isolation. A BOE conversion ratio of 6 Mcf: 1 BOEs [or McfGEs, or other applicable units of equivalency] may be effective date of 31 December 2014. st securities.
Executive Summary Corporate Social Responsibility (CSR) 53 Oando Foundation Contents 46 32 27 08 Oando Marketing (OMP) 01 Oando Supply & Trading (OST) Oando Terminals (OT) Downstream Operations Oando Gas & Power (OGP) Midstream Operations Oando Energy Services (OES) Oando Energy Resources (OER) Upstream Operations Appendix
Executive Summary ..the energy to inspire
Information dated 9th November 2015 Reflects 25% equity stake in Downstream post-divestment based on implied equity valuation (100%) of $241m per proposed SPA adj PUBLIC LISTING Oando Overview ~$ BN ~$ BN FINANCIAL OVERVIEW UPSTREAM LISTING Market Capitalisation Enterprise Value 2.06 2014 Revenue 2.21 PARENT LISTING JSE NSE Secondary Listing Primary Listing Resources Listing Oando Energy Subsidiary TSX Adjusted net debt estimate as at September 25, 2015 (Total debt less convertible loan notes, adjusted for cash) Enterprise Value excludes value of interest in HQ building and other real estate assets 2 ~ $ 533 M
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